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What Is Alpha Finance Lab (ALPHA)?
Alpha Finance Lab is a cross-chain DeFi platform that intends to provide alpha to users throughout multiple blockchains, including Binance Smart Chain (BSC) and Ethereum.
The platform strives to build a DeFi ecosystem that serves unfulfilled industry requirements while becoming easy to utilize and accessible. Alpha Lending, a decentralised lending protocol with algorithmically altered interest rates, is Alpha Finance Lab's first product.
Alpha Homora, a leveraged yield-farming platform, was the platform's second product, with AlphaX, a non-orderbook perpetual swap product, planned to officially launch in 2021.
The platform's native utility token is ALPHA.By staking ALPHA tokens to offset any default debts, token holders can receive a share of network charges. The token can also be utilized for liquidity mining and governance voting.
Alpha Finance Lab will incorporate governance through a decentralised autonomous organisation (DAO), enabling ALPHA holders to vote on the features of future Alpha products and how they will connect with each other. This governance process is divided into two levels: product-level governance and finance-level governance, giving token holders significant control over Alpha's future.
Who Are the Founders of Alpha Finance Lab?
Alpha Finance Lab (ALPHA) emerged in 2020, with a public token sale on the Binance Launchpad.
Tascha Punyaneramitdee, Alpha Finance Labs' project lead and a former Band Protocol head of strategy, developed the platform. Punyaneramitdee acquired substantial experience operating with global financial firms before joining Alpha Finance Lab, most notably as an investment banking analyst at Jefferies from 2017 to 2018, and product manager at technology giant Tencent from 2018 to 2020.
Moreover to Punaneramitdee, the Alpha Finance Labs core team consists Nipun Pitimanaaree, lead engineer and blockchain researcher at MIT and four-time gold medalist at the International Mathematical Olympiad (IMO).
According to the company's official's page, the Alpha Finance Labs team has at least seven people.
What Makes Alpha Finance Lab Unique?
Alpha Finance Lab seeks to distinguish it from other DeFi ecosystems by constantly exploring, recognising, and addressing unmet requirements in the DeFi sector through a rapid development cycle.
Unlike other platforms, Alpha Finance Lab strives to assure that its solutions are not only beneficial but also user-friendly, thus making DeFi more accessible. Each product created by Alpha Finance Lab contributes to the overall Alpha ecosystem by delivering increased utility to ALPHA token holders.
Alpha Finance Lab's initial products each claim to offer a completely unique solution to the market.Alpha Homora is the first platform to establish the notion of leveraged yield farming, and with the release of Alpha Homora V2 in 2021, it will provide the first smart contract capable of borrowing from another smart contract (Cream Finance) in an under-collateralized manner.
Furthermore, once implemented, AlphaX will be the first Uniswap/Sushiswap-style perpetual swap decentralised exchange without order books. This will enable more users to gain the benefits of perpetual swaps (such as trading on leverage) without requiring to understand how they operate in the background.
How Many Alpha Finance Lab (ALPHA) Coins Are There in Circulation?
The ALPHA token initially had a circulating supply of 174.1 million tokens out of a total supply of 1 billion ALPHA.
The total supply of ALPHA tokens is allotted as follows, according to Binance's Alpha Finance Labs research paper:
Binance Launchpad Sale: 10.00% of total token supply
Binance Launchpool holds 5.00% of the total token supply.
Private Sale: 13.33% of the total token supply
20.00% of the total token supply is allocated for liquidity mining.
Team & Advisors: 15% of the total token supply
Ecosystem accounts for 36.67 percent of total token supply.
Team tokens will be fully acquired by March 2024 and will be restricted until August 2021.
How Is the Alpha Finance Lab Network Secured?
As an ERC-20 token, ALPHA is supported by Ethereum, one of the most safe and reliable blockchain networks currently in use. Its extensive proof-of-work (POW) mining network, which utilizes an army of devoted miners to ensure the network's integrity, keeps it safe.
Alpha Finance Labs employs specialised developers and researchers, but it also depends on external audits to assure the security of its smart contracts. PeckShield and Quantstamp, for example, have been hired by Alpha Finance Labs to audit the smart contract code for Alpha Homora V2.
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